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4 years ago

The date on a monthly income statement prepared on April 30 is written as________.

Business

1 answer:

Simora [160]4 years ago

4 0

Answer:

(B) For Month Ended April 30, 20--.

Explanation:

Since, the income statement reflects the activities of the specific firm/entity/company for a particular period, therefore the date on income statement is always written in below manner depending on the number of months it represents.

If 12 months are represented by the income statement, then the date on such income statement is written as:

For year ended April 30,20--.

If 6 months are represented by the income statement, then the date on such income statement is written as:

For six months ended April 30,20--.

If 1 month is represented by the income statement, then the date on such income statement is written as:

For month ended April 30,20--.

Keeping in view the above discussion, the answer to the question shall be

(B) For Month Ended April 30, 20--.

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The basic laws of forecasting help to avoid misapplication or misrepresentation of forecast results.

Zigmanuir [339]

Answer:

Law 2

Explanation:

In probability. As bigger the group we are trying to predict , the higher probability to be more accurate

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4 years ago

Bart Just purchased a security for $17,000. This security will pay him $8,500 two years from today, $9,000 6 years from today an

andre [41]

Answer:

$,9789.97

Explanation:

Calculation to Find the payment (X) that he will receive at year 10

Using this formula

Let plug in the formula

Present Value = CF2/(1+r)^2 + CF6/(1+r)^6 + CF10/(1+r)^10 + CF4/(1+r)^4

Let plug in the formula

17,000 = 8,500/1.06^2 + 9,000/1.06^6 + X/1.06^10 - 3,000/1.06^4

Payment (X) = (17,000 - 13,909.61 + 2,376.28)*1.06^10

Payment (X) == $,9789.97

Therefore the payment (X) that he will receive at year 10 will be $,9789.97

3 0

3 years ago

home & barn construction, inc., contracts with idyll farms to build a new dairy barn on idyll's property for which idyll a

Cloud [144]

The element of this and any other contract include CONSIDERATION.
In business law, consideration refers to the exchange of money and the receipt of the item that was bargained for. In every transaction, there is always consideration in order for the contract to be legally binding.

4 0

4 years ago

31st, 2014, a four-year insurance policy was purchased with a cash payment of $60,000. Coverage began immediately. 37. What is t

dezoksy [38]

Answer:

$11,250

Explanation:

The amount of insurance expense that would be reported on the income statement for the year ended December 31, 2014

1. Since a four year policy was purchased for $60,000 it will have to be amortized yearly to get the annual figure for insurance expense

2. The amount is also apportioned to take note of the number of months that elapsed in the first year.

Therefore if the four-year insurance policy was purchased on March 31st (Since the month is omitted in the question) then the insurance expense will be for the remaining 9 months in 2014.

Hence insurance expense will be [9 months (April to Dec 2014) / 12 months in a year] x (Insurance amount / 4 years) = $11,250

8 0

4 years ago

A product sells for $205 per unit, and its variable costs are 60% of sales. The fixed costs are $464,000. What is the break-even

Tresset [83]

Answer: $1,160,000

Explanation: The Break even point depicts the amount of sales by making which the company will be at no profit or no loss situation. It can be computed using following formula :-

$Breakeven\:point=\frac{Fixed\:cost}{contribution\:margin\:ratio}$

where,

contribution margin = 1 - variable cost ratio

= 1 - 0.6

= 0.4

so, putting the values into equation we get :-

$Breakeven\:point=\frac{\$464,000}{0.4}$

= $1,160,000

3 0

3 years ago